Scientific research and its translation into commercialized technology is a driver of wealth creation and economic growth. Partnerships to foster the translational processes from public research organizations, such as universities and hospitals, to private firms are a policy tool that has...

We offer the first empirical analysis connecting the timing of general partner (GP) compensation to private equity fund performance. Using detailed information on limited partnership agreements between private equity limited and general partners, we find that "GP-friendly" contracts - agreements...